M&T Bank Corporation (NYSE:MTB) Holdings Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its position in shares of M&T Bank Corporation (NYSE:MTB) by 53.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 526 shares of the financial services provider’s stock after purchasing an additional 184 shares during the period. Exchange Traded Concepts LLC’s holdings in M&T Bank were worth $94,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new position in M&T Bank during the 4th quarter worth approximately $29,000. Banque Transatlantique SA acquired a new stake in shares of M&T Bank during the 4th quarter valued at $38,000. Loomis Sayles & Co. L P acquired a new stake in shares of M&T Bank during the 4th quarter valued at $52,000. Investors Research Corp boosted its stake in shares of M&T Bank by 31.1% during the 1st quarter. Investors Research Corp now owns 295 shares of the financial services provider’s stock valued at $53,000 after buying an additional 70 shares during the period. Finally, AdvisorNet Financial Inc boosted its stake in shares of M&T Bank by 1,033.3% during the 1st quarter. AdvisorNet Financial Inc now owns 374 shares of the financial services provider’s stock valued at $67,000 after buying an additional 341 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Robert E. Sadler, Jr. sold 6,700 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $183.52, for a total transaction of $1,229,584.00. Following the transaction, the director now owns 23,070 shares in the company, valued at approximately $4,233,806.40. The trade was a 22.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.

M&T Bank Stock Performance

Shares of MTB opened at $190.21 on Wednesday. The company has a market capitalization of $30.53 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.62. M&T Bank Corporation has a one year low of $145.82 and a one year high of $225.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $177.93 and its 200 day moving average price is $183.79.

M&T Bank (NYSE:MTB) last announced its earnings results on Monday, April 14th. The financial services provider reported $3.38 EPS for the quarter, missing the consensus estimate of $3.41 by ($0.03). The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.35 billion. M&T Bank had a return on equity of 10.18% and a net margin of 19.86%. During the same quarter last year, the business earned $3.09 EPS. As a group, analysts expect that M&T Bank Corporation will post 16.57 earnings per share for the current year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.40 annualized dividend and a yield of 2.84%. M&T Bank’s dividend payout ratio (DPR) is presently 36.17%.

Wall Street Analyst Weigh In

MTB has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of M&T Bank from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Thursday, April 24th. Royal Bank Of Canada reissued an “outperform” rating and set a $200.00 target price on shares of M&T Bank in a research note on Monday, May 19th. DA Davidson decreased their target price on shares of M&T Bank from $205.00 to $189.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Wall Street Zen raised shares of M&T Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th. Finally, Jefferies Financial Group set a $225.00 target price on shares of M&T Bank and gave the company a “buy” rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.88.

About M&T Bank

M&T Bank Corp. operates as a bank holding company, which engages in the provision of retail and commercial banking, trust, wealth management, and investment services. It operates through the following segments: Commercial Bank, Retail Bank, Institutional Services and Wealth Management, and All Other.